Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Farm bankruptcies keep rising in Minnesota and U.S.

 

February 4, 2020

New data shows farm bankruptcies rose last year. Credit for farmers this year is shaping up to be tighter as well. File photo of a farmer planting soybeans near Lake Benton, Minn.

Farm bankruptcies in Minnesota and across the U.S. rose again in 2019, as poor weather and the ongoing trade war with China prolonged a slump in commodity prices and profitability.

While the absolute numbers are small, they have been rising steadily since 2013, a year after the most recent peak in farm profits. Farm bankruptcies in Minnesota, Wisconsin, Iowa, South Dakota and North Dakota were three times greater last year than in 2013. Small dairy farms have led the way.

http://www.startribune.com/farm-bankruptcies-keep-rising-in-minnesota-and-u-s/567526652/

 

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